Nirmala Sitharaman to discuss Apple retail store matter with FM

Commerce and Industry Minister Nirmala Sitharaman said she will take up with the Finance Ministry the issue of relaxing mandatory sourcing norms for iPhone maker Apple, which wants to set up retail stores in the country.

The Modi Government on Wednesday announced a Rs 6,000 crore package for the textiles and apparels sector to help it wrest a bigger share of the global market.

According to a PTI report: The Finance Ministry has rejected the waiver of mandatory 30 per cent local sourcing for Apple Inc to set up single – brand stores in India.

“We are talking about it but nothing has been reached …if it’s a closed chapter I would not say I will go and talk to them…After that decision (rejection by the Finance Ministry) has come out in public, I am willing to go and speak to the finance,” she was quoted by PTI as saying.

The US-based giant has sought exemption on the ground that it makes state-of-the-art and cutting-edge technology products for which local sourcing is not possible.